Joint Agreement by emm19002

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									                                              JOINT ACCOUNT AGREEMENT
                                    FIRST SOUTHWEST COMPANY AND/OR BROKER/DEALERS
                                            FOR WHICH IT CLEARS TRANSACTIONS

                                                                          Account Title:______________________________________

                                                                          Account Number:___________________________________

In consideration of First Southwest Company (“FSC”) carrying a joint account for the undersigned, the undersigned jointly and
severally agree that each of them shall have authority on behalf of the joint account, (i) to buy, sell (including short sales) and
otherwise deal in, through FSC as broker, stocks, bonds, options and other securities and commodities, on margin or otherwise; (ii) to
receive on behalf of the joint account demands, notices, confirmations, reports, statements of account and communications of every
kind; (iii) to receive on behalf of the joint account money, securities and property of every kind and to dispose of same; (iv) to make
on behalf of the joint account agreements relating to any of the foregoing matters and to terminate or modify same or waive any of the
provisions thereof; and (v) generally to deal with FSC on behalf of the joint account as fully and completely as if he or she alone were
interested in said account, all without notice to the other or others interested in said account. FSC is authorized to follow the
instructions, of any of the undersigned in every respect concerning the said joint account with FSC and to make deliveries to any of
the undersigned, or upon his or her instructions, of any and all securities in the said joint account, and to make payments to any of the
undersigned, or upon his or her order, of any or all monies at any time or from time to time in the said joint account as he or she may
order and direct, even if such deliveries and/or payments shall be made to him or her personally, and not for the joint account of the
undersigned. In the event of such deliveries of securities or payments of monies to any of the undersigned as aforesaid, FSC shall be
under no duty or obligation to inquire into the purpose or propriety of any such demand for delivery of securities or payment of
monies, and FSC shall not be bound to see to the application or disposition of the said securities and/or monies so delivered or paid to
any of the undersigned or upon his or her order. The authority hereby conferred shall remain in full force until written notice of the
revocation by hand delivery or registered mail, addressed as follows: First Southwest Company, Attention: New Accounts
Department, 325 North St. Paul Street, Suite 800, Dallas, Texas 75201-3852 (or such other address as FSC advises the undersigned).

The liability of the undersigned with respect to said account shall be joint and several. The undersigned further agree jointly and
severally that all property FSC may at any time be holding or carrying for any one or more of the undersigned shall be subject to a lien
in FSC’s favor for the discharge of the obligation of the joint account to FSC, such lien to be in addition to and not in substitution of
the rights and remedies FSC otherwise would have.

It is further agreed that in the event of the death of either or any of the undersigned, the survivor or survivors shall immediately give
FSC written notice thereof, and FSC may, before or after receiving such notice, take such proceeding, require such papers of
inheritance or estate tax waivers, retain such portion of and/or restrict transactions in the account as FSC may deem advisable to
protect FSC against any tax, liability, penalty or loss under any present or future laws or otherwise. The estate of any of the
undersigned who shall have died shall be liable and each survivor shall continue to be liable, jointly and severally, to FSC for the net
debit balance or loss in said account in any way resulting from the completion of transactions initiated prior to the receipt by FSC or
the written notice of the death of the decedent or incurred in the liquidation of the account or the adjustment of the interest of the
respective parties.

Laws governing joint ownership of property vary from state to state. The undersigned understand that each of the undersigned is
responsible for verifying that the joint registration he or she selects is valid in his or her state. Generally, however, for joint tenants
with rights of survivorship, in the event of the death of either tenant, the entire interest in the joint account shall be vested in the
surviving joint tenant(s) on the same terms and conditions. For tenants in common, the interest in each tenancy shall be equal unless
specified in writing to FSC and in the event of the death of either tenant, the interest in their share of the tenancy shall vest in the
decedent’s legal representative. State laws regulating community property vary. The undersigned should consult his or her personal
legal advisor.

Check (a) or (b) below, whichever is applicable. If (b) is checked, fill in the name and percentage interest of the respective parties. If
neither is checked, (b) shall be controlling with each participant or his or her estate owning an equal interest in the account.

_______ (a) It is the express intention of the undersigned to create an estate or account as joint tenants with rights of survivorship
            and not as tenants in common. In the event of the death of either of the undersigned, the entire interest in the joint
            account shall be vested in the survivor or survivors on the same terms and conditions as theretofore held, without in any
            manner releasing the decedent’s estate from the liability provided for in subsection (b).



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_______ (b) In the event of the death of either or any of the undersigned the interest in the account as of the close of business on the
            date of the death of the decedent (or on the next following business day if the date of death is not a business day), shall
            be as follows:
            ________________________________________ or his or her estate ________%
            Name of Participant

              ________________________________________ or his or her estate             ________%
              Name of Participant

              ________________________________________ or his or her estate             ________%
              Name of Participant

              ________________________________________ or his or her estate             ________%
              Name of Participant

              TOTAL                                                                           100%

              But any taxes, costs, expenses or other charges becoming a lien against or being payable out of the account as the result
              of the death of the decedent, or through the exercise by his or her estate or representatives of any rights in the account
              shall, so far as possible, be deducted from the interest of the estate of such decedent. This provision shall not release the
              decedent’s estate from the liability provided above.

This Agreement shall benefit FSC, FSC’s successors and assigns, as well as, any introducing broker(s) for which FSC clears.

The undersigned request FSC to open the joint account under the following designation:

__________________________________________________________________________________________

Subject to the provisions hereof, all notices or communications for the undersigned in respect of the joint account are to be directed to:

Name_________________________________________________________________

Address_______________________________________________________________

City__________________________________ State_______ Zip_________________


Please sign below. (All participants must sign.)


___________________________________________________                   ___________________________________________________
Participant Signature                   Date                          Participant Signature                   Date

___________________________________________________                   ___________________________________________________
Print Name                                                            Print Name


___________________________________________________                   ___________________________________________________
Participant Signature                   Date                          Participant Signature                   Date

___________________________________________________                   ___________________________________________________
Print Name                                                            Print Name




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